Brightworth today announced that McGill Advisors, Inc., a Charlotte-based investment advisory firm, will become a division of the Atlanta wealth management firm. The transaction nearly doubles Brightworth’s number of clients and assets under management while expanding the firm’s footprint outside of Atlanta.
Eighteen-year-old McGill Advisors will continue to specialize in advising dental professionals. Four partners plus eleven McGill Advisors employees, including six wealth advisors, will join Brightworth, continuing to work in the expanded firm’s Charlotte office. The transaction will result in Brightworth managing over $3 billion in assets for over 1,200 clients.
Entering its 21st year of operation, Brightworth serves business owners, executives, professionals, retirees, and their families. This acquisition will further enhance the firm’s depth of wealth planning and investment expertise for clients across the U.S.
“We are very pleased to have McGill Advisors join Brightworth to create one of the largest investment advisory firms in the Southeast,” said Ray Padrón, Brightworth’s managing partner. “Both firms share a culture of exceptional customer service in providing investment and wealth management counsel to individuals, businesses and families. We look forward to working with our new colleagues to strengthen the services we provide our clients.”
Padrón emphasized that McGill’s current wealth advisors and employees will continue to serve all their current clients. “Each individual, family, and practice served by the McGill Advisors division has a solid working relationship with their McGill wealth advisor,” he said. “We understand the importance of this bond, and we plan to enhance these ties by bringing additional resources to Charlotte, supporting advisors’ capacity to serve their clients with excellence.”
Frequently Asked Questions
Why has Brightworth agreed to merge in McGill Advisors?
Brightworth’s strategic plan includes increasing the depth and breadth of our resources to better serve our clients. McGill has a culture, client base, and team of professionals that complement Brightworth’s, and in addition gives us greater access to the Charlotte market and Charlotte-Atlanta corridor.
As a current Brightworth client, is there any impact on my account?
No, you will continue to work with your current wealth advisor and client service team. You do not need to take any action.
Will there any impact on my fees?
There will be no changes in fee schedule for clients of either company. Every client of both companies will keep their existing fee schedule.
Will people be moving?
All employees will continue to operate from their current locations.
Will there be changes in leadership or additional partners?
Brightworth will be adding four McGill Advisors partners, some of whom will serve on management, operations, and investment committees.
Who will be Managing Partner of McGill Advisors?
Ray Padrón will continue to be Brightworth’s Managing Partner, with Bob Styz serving as partner in charge of the McGill Advisors division and reporting to Ray Padrón.